He Cabinet Council approved this Tuesday the expansion of the price per gallon of fuel to $3.25 for gasoline of 91 octane, like diesel, from November 15 and until December 14, 2023.
This decision cancels the effects article 1 of Government Resolution no. 60 of May 19, 2022which temporarily stabilizes the price of fuel with a state contribution of up to 10 million dollars.
The extension of this subsidy seeks to alleviate the high prices of products and services for the general population, and continue the economic revival of the country.
In this way, economic growth is promoted in sectors such as public transport, agriculture, animal husbandry, industry and tourismamong others.
It also guarantees that inflation in Panama is among the lowest in the world.
The fuel subsidy was approved after nationwide protests and street closures over the high cost of living July 2022
Source: Panama America
I am Jason Root, author with 24 Instant News. I specialize in the Economy section, and have been writing for this sector for the past three years. My work focuses on the latest economic developments around the world and how these developments impact businesses and people’s lives. I also write about current trends in economics, business strategies and investments.
